I last spoke about this on October 29th as it was breaking out of the resistance at $152.85. At that time I did mention that this may end up consolidating for a while before it's ready to move higher.
Now CPRT is offering yet another entry and it seems like it's ready to move higher from here.
What's really interesting about this is that it consolidated while the general market was in a correction. This indicates that institutions are interested in this stock and were keeping it afloat.
Now may be the perfect time to enter before it starts heading higher.
Everything from my previous post still stands.
Trade Idea:
* Now's the right time to enter as the stock is trading at higher than average volume
* Earnings coming up next week
* If you're looking for a slight discount you can look for an entry around the $152.85 area
* $152.85 as been serving as support and should serve as support going forward
Now CPRT is offering yet another entry and it seems like it's ready to move higher from here.
What's really interesting about this is that it consolidated while the general market was in a correction. This indicates that institutions are interested in this stock and were keeping it afloat.
Now may be the perfect time to enter before it starts heading higher.
Everything from my previous post still stands.
Trade Idea:
* Now's the right time to enter as the stock is trading at higher than average volume
* Earnings coming up next week
* If you're looking for a slight discount you can look for an entry around the $152.85 area
* $152.85 as been serving as support and should serve as support going forward
